Chakravarthi Rangarajan on Monetary Policy After Liberalization
Ideas of India
The Consequences of the RBI's Fiscal Dominance
Fiscal dominance is more related to the way in which monetary policy is formulated than implemented. The monetary authority is handicapped if the government is dominant and has its way, he says. But changes will be required to restore autonomy with respect to monetary policy by restoring inflation-targeting regime," Raghuram Rajan adds.
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